JPMorgan Chase & Co. $JPM Stock Position Cut by Peoples Financial Services CORP.

Key Points

• Peoples Financial Services CORP. reduced its stake in JPMorgan Chase & Co. by 10.4% during the 2nd quarter, holding 14,649 shares worth approximately $4,247,000.
• JPMorgan Chase recently increased its quarterly dividend from $1.40 to $1.50, representing an annualized yield of 1.9%.
• Brokerages have raised their target prices for JPMorgan Chase, with analysts providing an average price target of $303.45, reflecting a consensus rating of "Hold."

Peoples Financial Services CORP. lessened its stake in JPMorgan Chase & Co. (NYSE:JPM - Free Report) by 10.4% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 14,649 shares of the financial services provider's stock after selling 1,704 shares during the period. JPMorgan Chase & Co. accounts for approximately 2.1% of Peoples Financial Services CORP.'s investment portfolio, making the stock its 9th largest holding. Peoples Financial Services CORP.'s holdings in JPMorgan Chase & Co. were worth $4,247,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. MJT & Associates Financial Advisory Group Inc. purchased a new stake in shares of JPMorgan Chase & Co. during the first quarter worth about $28,000. University of Illinois Foundation purchased a new stake in shares of JPMorgan Chase & Co. during the first quarter worth about $30,000. Curat Global LLC purchased a new stake in shares of JPMorgan Chase & Co. during the first quarter worth about $33,000. Ryan Investment Management Inc. purchased a new stake in shares of JPMorgan Chase & Co. during the second quarter worth about $37,000. Finally, Christopher J. Hasenberg Inc grew its stake in shares of JPMorgan Chase & Co. by 212.0% during the second quarter. Christopher J. Hasenberg Inc now owns 156 shares of the financial services provider's stock worth $45,000 after acquiring an additional 106 shares during the last quarter. Hedge funds and other institutional investors own 71.55% of the company's stock.

Insider Buying and Selling

In related news, Director Linda Bammann sold 9,500 shares of the stock in a transaction on Tuesday, September 2nd. The stock was sold at an average price of $297.94, for a total value of $2,830,430.00. Following the completion of the transaction, the director directly owned 82,207 shares of the company's stock, valued at approximately $24,492,753.58. This represents a 10.36% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 0.47% of the company's stock.

JPMorgan Chase & Co. Trading Up 0.8%

Shares of JPM stock opened at $309.89 on Friday. The company has a debt-to-equity ratio of 1.25, a current ratio of 0.88 and a quick ratio of 0.88. The company has a market cap of $852.11 billion, a price-to-earnings ratio of 15.90, a PEG ratio of 2.03 and a beta of 1.13. The stock has a 50 day simple moving average of $300.67 and a 200-day simple moving average of $274.48. JPMorgan Chase & Co. has a 1-year low of $202.16 and a 1-year high of $318.01.

JPMorgan Chase & Co. (NYSE:JPM - Get Free Report) last announced its earnings results on Tuesday, July 15th. The financial services provider reported $4.96 earnings per share for the quarter, topping the consensus estimate of $4.48 by $0.48. The business had revenue of $44.91 billion during the quarter, compared to the consensus estimate of $43.76 billion. JPMorgan Chase & Co. had a return on equity of 16.93% and a net margin of 20.52%.The business's quarterly revenue was down 10.5% on a year-over-year basis. During the same period in the prior year, the company posted $6.12 EPS. On average, equities research analysts expect that JPMorgan Chase & Co. will post 18.1 EPS for the current fiscal year.

JPMorgan Chase & Co. Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 31st. Investors of record on Monday, October 6th will be paid a $1.50 dividend. The ex-dividend date of this dividend is Monday, October 6th. This represents a $6.00 annualized dividend and a yield of 1.9%. This is an increase from JPMorgan Chase & Co.'s previous quarterly dividend of $1.40. JPMorgan Chase & Co.'s dividend payout ratio is currently 28.73%.

Wall Street Analyst Weigh In

A number of brokerages recently commented on JPM. Evercore ISI upped their target price on JPMorgan Chase & Co. from $309.00 to $330.00 and gave the company an "outperform" rating in a research report on Tuesday. Keefe, Bruyette & Woods upped their target price on JPMorgan Chase & Co. from $327.00 to $330.00 and gave the company an "outperform" rating in a research report on Wednesday, July 16th. Morgan Stanley upped their target price on JPMorgan Chase & Co. from $298.00 to $336.00 and gave the company an "equal weight" rating in a research report on Monday. Bank of America upped their target price on JPMorgan Chase & Co. from $330.00 to $340.00 and gave the company a "buy" rating in a research report on Wednesday, July 16th. Finally, Deutsche Bank Aktiengesellschaft upped their target price on JPMorgan Chase & Co. from $300.00 to $320.00 and gave the company a "hold" rating in a research report on Tuesday. Fourteen research analysts have rated the stock with a Buy rating, eight have given a Hold rating and three have given a Sell rating to the stock. According to MarketBeat.com, JPMorgan Chase & Co. has an average rating of "Hold" and a consensus price target of $303.45.

JPMorgan Chase & Co. Company Profile

JPMorgan Chase & Co is a financial holding company, which engages in the provision of financial and investment banking services. It focuses on investment banking, financial services for consumers and small businesses, commercial banking, financial transaction processing, and asset management. It operates through the following segments: Consumer and Community Banking (CCB), Commercial and Investment Bank (CIB), Asset and Wealth Management (AWM), and Corporate.

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